Danyell Rowback: 1 no2 yes3 3 to 5yrs cost == few thousand depending on length of warranty
Maria Bengston: 1) No, you should refuse having your credit run if you are not applying for a loan. However, you will need to complete a form 8300 for IRS reporting purposes if the car you are buying is over $10,000. 2) This depends on the car you buy. All new cars come with a factory warranty, but not all used cars do. If you are buying a used car, you can always negotiate a warranty. 3) Duration and cost for extended warranties vary, greatly. Duration can be anywhere from 5-10 years and from 60K-200K miles. Cost can be anywhere from $700-$3000. A typical extended warranty will be something like 7 years or 100K miles and it would generally cost around $1500. I would really consider passing on the extended warranty. You get a factory warranty with new cars and for used cars, a wiser investment is to pay a mechanic $100 before you agree to purchase the vehicle. He will i! nspect the entire car and let you know any problem areas to be concerned with. If it checks out, save your money you would have paid toward a warranty for future repairs. If it doesn't check out, don't buy it....Show more
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